Opinion: Water Markets Can Help Bring California’s Groundwater Into Balance

The San Joaquin Valley town of Corcoran is sinking. It’s fallen as much as 11.5 feet in some places, damaging drinking wells, changing the town’s flood zones and undermining critical infrastructure. The story is so dramatic that the New York Times covered it recently. The culprit here, though, is no ordinary villain – it’s the overpumping of groundwater.